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2013 (10) TMI 11 - HC - Income TaxWaiver / Reduction of penalty u/s 273A - CIT rejected the application for failure to secure the interest of the revenue - CIT observed that, the assessee has neither paid nor made any satisfactory arrangement of payment of taxes, petition of the assessee cannot be accepted as all the conditions for application of provisions of Section 273A are not satisfied– Held that:- Application was dismissed for failure to secure the interest of the revenue and as the petitioner does not fulfil the conditions laid down in Section 273-A of the 1961 Act, but without pointing out the conditions the petitioner does not fulfil. The impugned order is, therefore, non-speaking. However, as the petitioner has during pendency of the writ petition furnished a bank guarantee, it would be appropriate and in the interest of justice that the Commissioner of Income Tax is directed to consider the matter afresh and in accordance with parameters set out in Section 273-A of the 1961 Act – Decided in favor of Assessee.
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